The German Savings Banks Association And Crypto

2021-12-15 23:25:27
Germany’s Conservative Banks Association Surprises With Crypto

The German Savings Banks Association (DSGV), ponders the idea of offering crypto to its customers. This news comes after the recent rumors that banks in Spain are also considering the idea of offering crypto-services to their customers as well.

Considering that this particular association of banks is the largest and rather conservative, the move is definitely a step into the right direction.

Especially since the German Savings Banks Association has more than 50 million customers, in a total of 370 banks.

And according to an anonymous representative of the largest group of banks in Germany, ‘the interest in crypto assets is huge’.

As such, if the committee of the banks votes pro-crypto, chances are the Germany Savings Banks Association will start the project in 2022.

Furthermore, the regulations of the association are such that they give each of the 370 banks the option to choose whether to accept this project. Meaning that the decision is not mandatory for each opeartor individually.

More People Joining By The Day

However, according to Stern.de, the banks’ interest in this program is so high, that the majority is eager to start this project.

And if we consider the fear of inflation throughout the globe, investing in crypto is a more viable option even for the hardcore anti-crypto individuals.

Consequently, this is one of the biggest reasons as to why the German Savings Banks Association ponders the idea of offering crypto to its customers.

Especially since the demand for both crypto and NFTs is increasing by the day. And that is for pretty much every digital asset on the blockchain network.

Whatever the case, it seems like the future definitely holds crypto in store. That is easily noticeable, since every major banking entity is currently in the process of integrating, and consequently using crypto.

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